The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Indonesian super app raised an additional $300 million from state-owned mobile operator Telkomsel in what is expected to be its final investment prior to a merger with local e-commerce giant Tokopedia, Nikkei Asia reports.
According to a source familiar with the matter, Gojek and Tokopedia are already informing employees about plans for their combined entity, called GoTo, which could be valued at up to $40 billion and span e-commerce, courier services, food delivery, ride-hailing and more. The source said the deal would take place by the end of June.
Telkomsel previously invested $150 million in Gojek last November in a deal that included an option to inject further funds at a later date. Following that initial investment, the companies said they were in the process of integrating their services.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.